#COIN Coinsilium Group – NFT Marketplace beta Testnet Launch December 20, 2021 – Posted in: Blog, Coinsilium (COIN) – Tags: bitcoin, blockchain, cryptocurrency, Ethereum, finance, investor, nft, shareholder

 

Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Blockchain and Open Finance venture builder, is pleased to announce that the beta version of its NFT Marketplace, which has been designed and built by its wholly-owned subsidiary Nifty Labs Limited (“Nifty Labs”), is now live on the RSK Testnet. Nifty Labs is an NFT technology development partnership between Coinsilium and portfolio company Indorse Pte. Ltd. (“Indorse”).

 

Highlights:

 

Coinsilium CEO Eddy Travia commented: “We are delighted to be able to unveil our NFT Marketplace platform which goes live on the RSK Testnet today, as the first technical solution to come out of Nifty Labs, Coinsilium’s NFT development partnership with Indorse.

 

“The NFT Marketplace, together with the NFT minter, are powered by RSK technology, which enables the creation of smart contracts for NFTs secured by the Bitcoin network, with corresponding lower gas fees compared to those on the Ethereum network.

 

“With this Testnet release, we now have a powerful solution to showcase to strategic and commercially interested parties, as we move towards the commercialisation phase for this project. We are very much looking forward to providing the market with further progress updates in the new year.

 

“On behalf of the board of Coinsilium, I would also like to take this opportunity to thank all our shareholders for their continued support and offer our best wishes for the festive season as we look forward to 2022 with continued confidence and optimism.”

 

Progress report: beta launch of NFT Marketplace

 

Further to the Company’s announcement of 23 November 2021, the beta phase of the NFT Marketplace has now launched on the RSK Testnet. The NFT Marketplace will remain live on the Testnet while undergoing a period of public beta testing that also provides for a secure and controlled environment for showcase demonstration and presentation purposes. The Company is planning to host a series of presentation events for strategically and commercially interested industry parties commencing early in Q1 2022.

 

The NFT Marketplace can be accessed via the following link: https://testnet-nifty-marketplace.netlify.app/

 

To accompany the launch, a demonstration video walk through of the NFT Marketplace’s features and functionality has been produced. The video provides an overview of the Marketplace’s minting, listing, trading, and browsing features and capabilities and is available to view via the following link: ​https://youtu.be/sR1DNfkt18Y

 

Public testing and engagement with the NFT Marketplace on the Testnet requires the use of a Metamask crypto wallet and tRBTC and tRIF Testnet tokens. Testnet tokens can be obtained via a link on the Marketplace platform.

 

Proposed commercial and operational model

 

As stated in the Company’s announcement of 23 November 2021, the Directors are of the view that a ‘white-labelled’ Software as a Service (‘SaaS’) proposition with a third-party offering (for example to brands, artists or other creatives) via licensing agreements is likely to present the most viable commercial ‘go to market’ model for the NFT Marketplace. Coinsilium continues to work closely with its advisors in evaluating a range of considerations to ascertain the optimal and most cost-effective commercial and operational model that has the best potential for long-term scalability and corresponding revenue growth.

 

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

Coinsilium Group Limited Malcolm Palle, Executive Chairman Eddy Travia, Chief Executive	+350 2000 8223 +44 (0) 7785 381 089 www.coinsilium.com
Peterhouse Capital Limited Guy Miller / Mark Anwyl (AQSE Growth Market Corporate Adviser)	+44 (0) 207 469 0930
SI Capital Limited Nick Emerson (Broker)	+44 (0) 1483 413 500
Buchanan Communications Chris Lane / Toto Berger (Media and Investor Relations)	+44 (0) 20 7466 5000 E: coinsilium@buchanan.uk.com